Desk space fills at fastest rate in a decade

Office space take-up in the national market has hit its highest level in a decade with the expansion of white-collar jobs. Some 258,600 sqm have been filled in office towers across state capitals over the 12 months to September 2018.

The national rate has fallen by 1.8 percentage points over the year to 9.1 per cent even as new supply comes into the market.

Sydney’s vacancy rate has slightly softened to 4.7 per cent from 4.5 three months earlier. The CBD recorded 8,800 sqm of net absorption over the 12 months to September 2018. The low vacancy rate is pushing up the cost of space with prime gross effective rents rising 0.8 pc over the quarter and by 10.1 pc over the last 12 months.

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Ray White’s top 10 listings for October: (Click on the address to view listing)

Part level 14, 14 Martin Place SYDNEY

483 Riley Street SURRY HILLS

Suite 20.03, 25 Bligh Street SYDNEY

Level 4, 63 York Street SYDNEY

Level 1, 64 Clarence Street SYDNEY

Suite 902, 46 Market Street SYDNEY

Suite 401, 261 George Street SYDNEY

Level 19, 68 Pitt Street SYDNEY

Level 8, 27 Macquarie Place SYDNEY

Suite 13.01, 84 Pitt Street SYDNEY